Tether publishes his latest transparency report

The latest transparency report by Tether shows that the majority of his reserves are kept in liquid funds

tether Holdings, the company behind the USDT tablecoin, published his independent accountant report yesterday. The independent report claims that the USDT token issued by the company are fully covered by its reserves.

The report refers to the period that ended on June 30, 2021. According to the report, the company held assets of around 62,773,190,075 USD, with most funds being kept in liquid funds. In addition, Tether's liabilities amounted to $ 62,628,932,116 during this period, of which 62,610,829.196 were related to his stablecoin.

The review was carried out by Moore Cayman, the accounting company based on the Kaiman Islands, which its last Transparency report in April. The Consolidated Reserve Report or CRR shows that Tether fulfilled its reserve obligations for the period that ended in June.

Tether's latest report claims that the company has added more than $ 21 billion to its total assets in the past few months. The April report showed that Tether held a total assets of $ 41,565,708, while it now holds $ 62,773,190,075.

Moore Cayman wrote: "In our opinion, the CRR, as created by the management of Tether Holdings Limited Group on June 30, 2021 at 11:59 p.m. UTC, is presented in accordance with the criteria specified therein and is formulated fairly in all essential matters ."

According to the report, 85 % of Tether (USDT) reserves are kept in liquid funds. This means that $ 53.4 billion of the reserve of $ 62.8 billion is liquid funds. This includes $ 30.8 billion in Commercial Papers and deposit certificates, $ 15.3 billion in treasure changes, $ 6.3 billion in cash and bank deposits and $ 1 billion in reverse repo-notes.

tether holds 8% of its total assets in corporate bonds, funds and precious metals, 4% in secured loans and 3% in other systems such as digital tokens. The company published the transparency report as part of a comparison with the New York general prosecutor's office in February this year.